Qorvo Announces Closing of $500 Million Senior Notes Offering
July 16 2018 - 11:45AM
Qorvo® (Nasdaq:QRVO), a leading provider of innovative RF solutions
that connect the world, today announced the completion of its
offering of $500 million principal amount of its senior notes
maturing in 2026 (the “Notes”). The Notes will pay interest
semi-annually at a rate of 5.50%. The Notes will mature on July 15,
2026, unless earlier redeemed in accordance with their terms.
The Notes were issued to persons reasonably believed to be
qualified institutional buyers pursuant to Rule 144A under the
Securities Act of 1933, as amended (the “Securities Act”), and to
certain non-U.S. persons in accordance with Regulation S under the
Securities Act. Qorvo expects to use the net proceeds of the
offering to purchase, in connection with its recently announced
tender offers, up to $300 million of its 7.00% senior notes due
2025, to pay related fees and expenses of the offering and the
tender offers and for general corporate purposes. The Notes are
senior unsecured obligations of Qorvo and are initially guaranteed,
jointly and severally, by each of Qorvo’s existing and future
direct and indirect wholly-owned U.S. subsidiaries that guarantee
Qorvo’s obligations under its existing credit facility.
The Notes have not been registered under the Securities Act or
any state securities laws and may not be offered or sold in the
United States absent registration or an applicable exemption from
such registration requirements.
This press release shall not constitute an offer to sell nor a
solicitation of an offer to buy the Notes or any other securities
and shall not constitute an offer, solicitation or sale in any
jurisdiction in which such offer, solicitation or sale would be
unlawful.
About Qorvo
Qorvo (Nasdaq:QRVO) makes a better world possible by providing
innovative RF solutions at the center of connectivity. We combine
product and technology leadership, systems-level expertise and
global manufacturing scale to quickly solve our customers’ most
complex technical challenges. Qorvo serves diverse high-growth
segments of large global markets, including advanced wireless
devices, wired and wireless networks and defense radar and
communications. We also leverage our unique competitive strengths
to advance 5G networks, cloud computing, the Internet of Things,
and other emerging applications that expand the global framework
interconnecting people, places and things. Visit
http://www.qorvo.com to learn how Qorvo connects the world.
Qorvo is a registered trademark of Qorvo, Inc. in the U.S. and
in other countries. All other trademarks are the property of their
respective owners.
This press release includes "forward-looking statements" within
the meaning of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. These forward-looking statements
include, but are not limited to, statements about our plans,
objectives, representations and contentions and are not historical
facts and typically are identified by use of terms such as "may,"
"will," "should," "could," "expect," "plan," "anticipate,"
"believe," "estimate," "predict," "potential," "continue" and
similar words, although some forward-looking statements are
expressed differently. You should be aware that the forward-looking
statements included herein represent management's current judgment
and expectations, but our actual results, events and performance
could differ materially from those expressed or implied by
forward-looking statements. We do not intend to update any of these
forward-looking statements or publicly announce the results of any
revisions to these forward-looking statements, other than as is
required under U.S. federal securities laws. Our business is
subject to numerous risks and uncertainties, including those
relating to fluctuations in our operating results, our dependence
on a few large customers for a substantial portion of our revenue,
a loss of revenue if contracts with the U.S. government or defense
and aerospace contractors are canceled or delayed, our ability to
implement innovative technologies, our ability to bring new
products to market and achieve design wins, the efficient and
successful operation of our wafer fabrication and other facilities,
our ability to adjust production capacity in a timely fashion in
response to changes in demand for our products, variability in
manufacturing yields, industry overcapacity, inaccurate product
forecasts and corresponding inventory and manufacturing costs,
dependence on third parties, our dependence on international sales
and operations, our ability to attract and retain skilled personnel
and develop leaders, the possibility that future acquisitions may
dilute our stockholders' ownership and cause us to incur debt and
assume contingent liabilities, fluctuations in the price of our
common stock, our ability to protect our intellectual property,
claims of intellectual property infringement and other lawsuits,
security breaches and other similar disruptions compromising our
information, and the impact of government and stringent
environmental regulations. These and other risks and uncertainties,
which are described in more detail in Qorvo's most recent Annual
Report on Form 10-K and in other reports and statements filed with
the Securities and Exchange Commission, could cause actual results
and developments to be materially different from those expressed or
implied by any of these forward-looking statements.
QRVO-F
At
Qorvo® |
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At the
Financial Relations Board |
Doug DeLieto |
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|
Joe Calabrese |
VP, Investor
Relations |
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Vice President |
336-678-7088 |
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212-827-3772 |
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